Stocks to watch: Sembcorp Industries, Frasers Property, Yangzijiang Maritime, OKP

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Mar 9): 

Sembcorp Industries : The engineering services company on Monday said that no damage has been suffered by the United Arab Emirates’ Fujairah F1 power and water plant amid Iran’s strikes. It elaborated that operations are currently continuing while the situation continues to be monitored. This also applies to its Oman facilities Salalah IWPP and the Manah II Solar Independent Power Project. Shares in Sembcorp Industries ended 0.7 per cent or S$0.04 higher at S$5.72 on Friday.

Frasers Property : The property player on Monday announced the appointment of Tony Lombardo as its new group chief operating officer, effective Oct 1. He will report to the group chief executive and be based in Singapore. Lombardo is currently the group CEO and managing director of Lendlease. Shares of Frasers Property ended 0.5 per cent or S$0.005 lower at S$0.995 on Friday.

Yangzijiang Maritime : The maritime financial solutions provider’s proposed share buyback mandate has been approved by shareholders at its Friday extraordinary general meeting. The share buyback will see the group purchase up to 10 per cent of all its issued shares. The group’s chief executive and chairman, Ren Yuanlin, previously spoke of plans to focus on capital allocation, including through share buybacks. The counter ended Friday unchanged at S$0.575, before the news.

OKP : The mainboard-listed infrastructure and civil engineering company announced on Monday that it secured a contract valued at around S$87.3 million from the Land Transport Authority for commuter infrastructure works along the Jurong Region Line. Shares of OKP ended flat at S$0.76 on Friday.